Special Notice/ Hearing: None
Vote Required: Majority
To: Honorable Board of Supervisors
From: Michael P. Callagy, County Manager
Subject: Resolution authorizing agreements with Orrick, Herrington & Sutcliff LLP, and Norton Rose Fulbright US LLP for Legal Services Related to Bond Issuances and/or Refinancings
RECOMMENDATION:
title
Adopt a resolution waiving the Request for Proposals process and authorizing agreements with Orrick, Herrington and Sutcliffe LLP for Legal Services as Bond Counsel, and Norton Rose Fulbright US LLP as Disclosure Counsel, in connection with anticipated bond issuances to be issued within the next 18 months.
body
BACKGROUND:
The issuance of bonds presents unique legal and financial issues requiring specific expertise in bond financing and tax law. The County and the San Mateo County Joint Powers Financing Authority ("Authority") are currently working on the issuance of up to $155 Million of Lease Revenue Bonds to finance the design, architecture, and construction of the Cordilleras Mental Health Rehabilitation Center Replacement Project. The issuance will include a refunding of prior bonds.
DISCUSSION:
Mary Collins and John Palmer, partners with the law firm of Orrick, Herrington & Sutcliffe LLP ("Orrick"), and Eric Tashman and Dave Sanchez of the law firm Norton Rose Fulbright US LLP ("Norton") have performed considerable work as bond counsel and disclosure counsel, respectively, for the County, the Authority, and other public entities. Ms. Collins, Mr. Palmer, and Mr. Tashman have provided services to the County in the past - including with lease revenue bonds that financed construction of the Maple Street Correctional Center in 2014, the refunding bonds for the 2015 refinancing of the San Mateo County Flood Control District's 1997 and 2004 Certificates of Participation, and the 2016 refinancing of the County's Series 2008 Series A bonds regarding the Youth Services Center, as ...
Click here for full text